“It's a question of state law,” said Edward Rock, the director of NYU Law School's Institute for Corporate Governance and Finance. “The SEC should not get involved and it's not an appropriate issue for them to get involved with.” In Rock's view, the SEC's mode of regulation is disclosure, not making ...

The Federal Reserve's unprecedented move to handcuff growth at Wells Fargo & Co. sent a message that boards of directors , not just management, will be held accountable when big banks fail to manage risks. The Fed on Friday said Wells Fargo would be replacing four board directors in 2018 and ...